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SM Prime Targets Further Expansion

By

James Hookway

Updated March 19, 2009 11:39 p.m. ET

MANILA -- Despite the ongoing global economic slump, the Philippines' largest shopping mall developer, SM Prime Holdings Inc., intends to continue its expansion across China and the Philippines in the coming year, company president Hans Sy says.

Specifically, SM Prime plans to continue targeting second tier cities in China instead of Beijing or Shanghai, while at the same time extending its expansion into dense population centers in outlying areas of the Philippines, Mr. Sy told The Wall Street Journal in a recent interview.